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Synopsis
Timetric’s 'Personal Accident and Health Insurance in Hungary, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Hungarian personal accident and health insurance segment, and a comparison of the Hungarian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets and total investment income during the review period (2011–2015) and forecast period (2015–2020).

The report also gives a comprehensive overview of the Hungarian economy and demographics and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Personal Accident and Health Insurance in Hungary, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Hungarian personal accident and health insurance segment, including:

- An overview of the Hungarian personal accident and health insurance segment

- The Hungarian personal accident and health insurance segment’s growth prospects by category

- A comprehensive overview of the Hungarian economy and demographics

- A comparison of the Hungarian personal accident and health insurance segment with its regional counterparts

- Details of the competitive landscape in the Hungarian personal accident and health insurance segment

- Details of regulatory policy applicable to the Hungarian insurance industry

Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Hungary:

- It provides historical values for the Hungarian personal accident and health insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Hungarian personal accident and health insurance segment, and market forecasts to 2020.

- It provides a comparison of the Hungarian personal accident and health insurance segment with its regional counterparts

- It profiles the top personal accident and health insurance companies in Hungary, and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Hungarian personal accident and health insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Hungarian personal accident and health insurance segment.

- Assess the competitive dynamics in the personal accident and health insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Hungarian insurance industry, and their impact on companies and the industry's future.

Key Highlights
- The Hungarian personal accident and health insurance segment accounted for 3.9% of the industry’s gross written premium in 2015.

- The Insurance Companies and Insurance Activities Act was introduced in December 2014, and came into force on January 1, 2016.

- Personal accident insurance accounted for 66.7% of the segment’s gross written premium in 2015.

- Health insurance was the second-largest category, accounting for 27.5% of the segment’s gross written premium in 2015.

- Factors such as a rise in road accidents, awareness of health insurance benefits and expansion of the tourism industry are expected to lead the segment’s growth over the forecast period.

Table Of Contents

Personal Accident and Health Insurance in Hungary, Key Trends and Opportunities to 2020
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Policies
5.1.3 Claims
5.1.4 Profitability
5.2 Health Insurance
5.2.1 Premium
5.2.2 Policies
5.2.3 Claims
5.2.4 Profitability
5.3 Travel Insurance
5.3.1 Premium
5.3.2 Policies
5.3.3 Claims
5.3.4 Profitability
6 Competitive Landscape
6.1 Company Profiles
6.1.1 Allianz Hungária Biztosító Zrt - company overview
6.1.2 Generali-Providencia Biztosító Zrt - company overview
6.1.3 Magyar Posta Életbiztosító Zrt - company overview
6.1.4 Groupama Garancia Biztosító Zrt - company overview
6.1.5 Aegon Magyarország Általános Biztosító Zrt - company overview
7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulation
7.3 Legislation and Market Practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.4.1 Motor third-party liability insurance
7.4.2 Air carriers and aircraft operators' liability insurance
7.4.3 Workers' compensation insurance
7.4.4 Marine liability insurance
7.4.5 Professional indemnity insurance for alternative investment fund managers
7.4.6 Professional indemnity insurance for insurance brokers
7.4.7 Liability for ships with respect to oil pollution
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors
7.5.2 European Insurance and Occupational Pensions Authority
7.5.3 Magyar Nemzeti Bank
7.6 Non-Admitted Insurance Regulation
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and Penalties
7.7 Company Registration and Operations
7.7.1 Type of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margin
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Withholding taxes on premium paid overseas
7.8.3 Corporate tax
7.8.4 VAT
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution (ADR)
8 Databook
8.1 Policies and Premium
8.1.1 Claims and expenses
8.1.2 Assets and investments
8.1.3 Personal accident insurance
8.1.4 Health insurance
8.1.5 Health insurance by product
8.1.6 Travel insurance
9 Definitions and Methodology
9.1 Definitions
9.2 Methodology
10 About Timetric
10.1 Contact Timetric
10.2 About Timetric
10.3 Timetric's Services
10.4 Disclaimer


List of Tables
Table 1: Hungarian Personal Accident and Health Insurance - Key Facts, 2015
Table 2: Hungarian Personal Accident and Health Insurance - Leading Insurers, 2015
Table 3: Hungarian Government Credit Ratings
Table 4: Hungarian Personal Accident and Health Insurance - Gross Written Premium (HUF Billion and US$ Million), 2011-2015
Table 5: Hungarian Personal Accident and Health Insurance - Penetration (%), 2011-2015
Table 6: Hungarian Personal Accident and Health Insurance - Gross Written Premium (HUF Billion and US$ Million), 2015-2020
Table 7: Hungarian Personal Accident and Health Insurance - Penetration (%), 2015-2020
Table 8: Hungarian Personal Accident and Health Insurance - Premium per Capita (HUF and US$), 2011-2015
Table 9: Hungarian Personal Accident and Health Insurance - Premium per Capita (HUF and US$), 2015-2020
Table 10: Hungarian Personal Accident and Health Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 11: Hungarian Personal Accident and Health Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 12: Hungarian Personal Accident and Health Insurance - Paid Claims (HUF Billion and US$ Million), 2011-2015
Table 13: Hungarian Personal Accident and Health Insurance - Paid Claims (HUF Billion and US$ Million), 2015-2020
Table 14: Hungarian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015
Table 15: Hungarian Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020
Table 16: Hungarian Personal Accident and Health Insurance - Total Assets (HUF Billion and US$ Million), 2011-2015
Table 17: Hungarian Personal Accident and Health Insurance - Total Assets (HUF Billion and US$ Million), 2015-2020
Table 18: Hungarian Personal Accident and Health Insurance - Total Investment Income (HUF Billion and US$ Million), 2011-2015
Table 19: Hungarian Personal Accident and Health Insurance - Total Investment Income (HUF Billion and US$ Million), 2015-2020
Table 20: Hungarian Personal Accident and Health Insurance - Investment Portfolio (HUF Billion), 2011-2015
Table 21: Hungarian Personal Accident and Health Insurance - Investment Portfolio (HUF Billion), 2015-2020
Table 22: Hungarian Personal Accident and Health Insurance - Gross Written Premium by Category (HUF Billion), 2011-2015
Table 23: Hungarian Personal Accident and Health Insurance - Gross Written Premium by Category (HUF Billion), 2015-2020
Table 24: Hungarian Personal Accident Insurance - Gross Written Premium (HUF Billion and US$ Million), 2011-2015
Table 25: Hungarian Personal Accident Insurance - Gross Written Premium (HUF Billion and US$ Million), 2015-2020
Table 26: Hungarian Personal Accident Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 27: Hungarian Personal Accident Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 28: Hungarian Personal Accident Insurance - Paid Claims (HUF Billion and US$ Million), 2011-2015
Table 29: Hungarian Personal Accident Insurance - Paid Claims (HUF Billion and US$ Million), 2015-2020
Table 30: Hungarian Personal Accident Insurance - Loss Ratio (%), 2011-2015
Table 31: Hungarian Personal Accident Insurance - Loss Ratio (%), 2015-2020
Table 32: Hungarian Health Insurance - Gross Written Premium by Sub-Category (HUF Billion and US$ Million), 2011-2015
Table 33: Hungarian Health Insurance - Direct Written Premium by Sub-Category (HUF Billion and US$ Million), 2015-2020
Table 34: Hungarian Health Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 35: Hungarian Health Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 36: Hungarian Health Insurance - Paid Claims (HUF Billion and US$ Million), 2011-2015
Table 37: Hungarian Health Insurance - Paid Claims (HUF Billion and US$ Million), 2015-2020
Table 38: Hungarian Health Insurance - Loss Ratio (%), 2011-2015
Table 39: Hungarian Health Insurance - Loss Ratio (%), 2015-2020
Table 40: Hungarian Travel Insurance - Gross Written Premium (HUF Billion), 2011-2015
Table 41: Hungarian Travel Insurance - Gross Written Premium (HUF Billion), 2015-2020
Table 42: Hungarian Travel Insurance - Number of Policies Sold (Million), 2011-2015
Table 43: Hungarian Travel Insurance - Number of Policies Sold (Million), 2015-2020
Table 44: Hungarian Travel Insurance - Paid Claims (HUF Million and US$ Million), 2011-2015
Table 45: Hungarian Travel Insurance - Paid Claims (HUF Million and US$ Million), 2015-2020
Table 46: Hungarian Travel Insurance - Loss Ratio (%), 2011-2015
Table 47: Hungarian Travel Insurance - Loss Ratio (%), 2015-2020
Table 48: Hungarian Personal Accident and Health Insurance - Leading Insurers, 2015
Table 49: Allianz Hungária Biztosító Zrt - Key Facts
Table 50: Generali Providencia Biztositó Zrt - Key Facts
Table 51: Magyar Posta Életbiztosító Zrt - Key Facts
Table 52: Groupama Garancia Biztosító Zrt - Key Facts
Table 53: Aegon Magyarország Általános Biztosító Zrt - Key Facts
Table 54: Hungary - Insurance Regulatory Framework Key Features
Table 55: Hungary - Life Insurance Regulatory Framework
Table 56: Hungary - Property Insurance Regulatory Framework
Table 57: Hungary - Motor Insurance Regulatory Framework
Table 58: Hungary - Bonus-Malus System for Passenger Cars and Motorcycles
Table 59: Hungary - Bonus-Malus System for Trucks, Buses, Tractors and Other Commercial Vehicles
Table 60: Hungary - Liability Insurance Regulatory Framework
Table 61: Hungary - Minimum Coverage for Aircraft Third-Party Liability per Accident and Aircraft
Table 62: Hungary - Insurance Premium Taxation
Table 63: Hungary - Corporate Tax Rates for the Financial Year 2016
Table 64: Hungarian Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015
Table 65: Hungarian Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020
Table 66: Hungarian Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
Table 67: Hungarian Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
Table 68: Hungarian Personal Accident and Health Insurance - Assets and Investments, 2011-2015
Table 69: Hungarian Personal Accident and Health Insurance - Assets and Investments, 2015-2020
Table 70: Hungarian Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
Table 71: Hungarian Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
Table 72: Hungarian Personal Accident and Health Insurance - Health Insurance, 2011-2015
Table 73: Hungarian Personal Accident and Health Insurance - Health Insurance, 2015-2020
Table 74: Hungarian Personal Accident and Health Insurance - Health by Product, 2011-2015
Table 75: Hungarian Personal Accident and Health Insurance - Health by Product, 2015-2020
Table 76: Hungarian Personal Accident and Health Insurance - Travel Insurance, 2011-2015
Table 77: Hungarian Personal Accident and Health Insurance - Travel Insurance, 2015-2020
Table 78: Insurance Industry Definitions


List of Figures
Figure 1: Hungarian Real GDP (HUF Trillion), 2011-2020
Figure 2: HUF-US$ Exchange Rate, 2011-2020
Figure 3: Hungarian Consumer Price Inflation (%), 2011-2020
Figure 4: Hungarian Current Account Balance as Percentage of GDP (%), 2011-2015
Figure 5: Hungarian Unemployment Rate (%), 2011-2020
Figure 6: Hungarian Population by Age Group, 1990-2025
Figure 7: Hungarian Personal Accident Insurance - Number of Road Accidents, 2011-2015
Figure 8: Hungarian Personal Accident and Health Insurance Penetration - Regional Comparison (%), 2015
Figure 9: Hungarian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 10: Hungarian Personal Accident and Health Insurance - Gross Written Premium (HUF Billion), 2011-2020
Figure 11: Hungarian Personal Accident and Health Insurance - Penetration (%), 2011-2020
Figure 12: Hungarian Personal Accident and Health Insurance - Premium per Capita (HUF), 2011-2020
Figure 13: Hungarian Personal Accident and Health Insurance - Number of Policies Sold (Million), 2011-2020
Figure 14: Hungarian Personal Accident and Health Insurance - Paid Claims (HUF Billion), 2011-2020
Figure 15: Hungarian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2020
Figure 16: Hungarian Personal Accident and Health Insurance - Total Assets (HUF Billion), 2011-2020
Figure 17: Hungarian Personal Accident and Health Insurance - Total Investment Income (HUF Billion), 2011-2020
Figure 18: Hungarian Personal Accident and Health Insurance - Investment Portfolio (HUF Billion), 2011-2020
Figure 19: Hungarian Personal Accident and Health Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 20: Hungarian Personal Accident and Health Insurance - Gross Written Premium by Category (HUF Billion), 2011-2020
Figure 21: Hungarian Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2011-2020
Figure 22: Hungarian Personal Accident Insurance - Gross Written Premium (HUF Billion), 2011-2020
Figure 23: Hungarian Personal Accident Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 24: Hungarian Personal Accident Insurance - Paid Claims (HUF Billion), 2011-2020
Figure 25: Hungarian Personal Accident Insurance - Earned Premium, Incurred Loss and Loss Ratio (HUF Billion and %), 2011-2020
Figure 26: Hungarian Health Insurance - Gross Written Premium (HUF Billion), 2011-2020
Figure 27: Hungarian Health Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 28: Hungarian Health Insurance - Paid Claims (HUF Billion), 2011-2020
Figure 29: Hungarian Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (HUF Billion and %), 2011-2020
Figure 30: Hungarian Travel Insurance - Gross Written Premium (HUF Billion), 2011-2020
Figure 31: Hungarian Travel Insurance - Number of Policies Sold (Million), 2011-2020
Figure 32: Hungarian Travel Insurance - Paid Claims (HUF Million), 2011-2020
Figure 33: Hungarian Travel Insurance - Earned Premium, Incurred Loss and Loss Ratio (HUF Million and %), 2011-2020
Figure 34: Hungary - The Three Pillars of Solvency II
Figure 35: Hungary - Insurance Supervision and Control at Various Levels
Figure 36: Hungary - Insurance Regulatory Frameworks for Company Registration and Operation

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